NOVOSIBIRSK, Russia--(BUSINESS WIRE)--Obuv Rossii Group (MOEX: OBUV), the first publicly traded company in the Russian fashion retail, comprising 903 stores in 367 cities of Russia and two production facilities, announces audited
financial results in accordance with IFRS for FY ended 31 December 2019.
FY 2019 FINANCIAL HIGHLIGHTS:
- Group audited consolidated revenue increased by 18.6% y-o-y to RUB 13.702 bln.
- Total LFL revenue rose by 5.2%.
- Gross profit grew by 11.4% y-o-y to RUB 7.562 bln. Gross profit margin was 55.2%.
- EBITDA increased by 25.5% y-o-y to RUB 3.583 bln. EBITDA margin amounted to 26.1%.
- Net profit grew by 26.7% to RUB 1.687 bln. Net profit margin was 12.3%.
- Net debt / EBITDA ratio increased to 3.3x compared to 2.9x in 2018.
Anton Titov, CEO of Obuv Rossii Group, comments:
We succeeded in increasing business process efficiency due to our unique business model that includes the diversification of stock and services, integration in the online trade infrastructure and financial services development. Improving the profitability and efficiency will remain priority tasks in the near future.
In November 2019 we started to work with our suppliers using the marketplace model having provided up to 50% of our shopping floor space for partner brand products and launched the Prodayom online platform. Over the three months, the turnover of the platform exceeded RUB 1 bln. We signed contracts with over 300 suppliers from such segments as glassware, household goods, etc.
Our aim in the mid-term perspective is to transform our business to become online integrating our retail chain to be an online sale infrastructure. The online-store www.westfalika.ru will become the main sales point for us while offline stores will perform the role of service points (pick-up points and centres to provide financial services).
We are elaborating a new strategy for company development for 3-5 years. It will be presented in the nearest future.
About OBUV ROSSII (http://obuvrus.com)
Obuv Rossii Group is a federal retail shoe chain, the first publicly traded company in the Russian fashion retail. Obuv Rossii was established in 2003, it is headquartered in Novosibirsk with a representative office in Moscow.